Time banking

Time banking allows employees to work more hours during busy times of the year and fewer hours during slower times of the year. Employees bank hours when they work more than the usual amount of time. They subtract from the bank when they work less than the usual number of hours.

Purposes of time banks

Companies that use time banking often have full-time salaried employees, with large seasonal variations in volume. During the year, employees work the same number of total hours. They just do not work a set number of hours every week. The seasonal volume of the company drives their work schedule.

Creating a time bank Feature in WFM that allows employees to work longer hours during busy times and fewer hours during slower times. Employees bank hours when they work more than usual, and subtract hours when they work less than usual.

There are three ways to create a time bank:

Import data from Strategic Planner, which is the best practice.

If your company has purchased Strategic Planner, use it to create long-term One to five words that are meaningful to a specific type of business, or phrases that stand out in interactions in Speech and Text Analytics. plans regarding the number of hours your employees need to work. You can export Strategic Planner data to the Forecasting and Scheduling module to create time banks.
Create a time bank from Work Administration > Work Rules > Time Banks, and enter the total target hours manually.

The system calculates daily target hours by dividing the total target hours by the total amount of days left in the time bank. It calculates the weekly target hours by multiplying the daily target hours by the number of days in the period. A period is usually seven days.
Import data from a text file.

The system calculates the base period of the time bank based on the organization start day. If there are too few base period values, extra weeks have target hours of zero (0). If there are too many base period values, extra values are ignored. Figures are rounded to the nearest 15 minutes.